Have I been saving well?

pearl123

Any savings are better than no savings.

ben501

NineDeuce wrote: »

This seems like simply an opportunity to say 'look at me. I have £8k in the bank'....

People must be easily pleased these days if that were the case. If I'm going to brag about something I want it to be among friends & people I know, not random internet strangers.


Besides, I'd have thought having a car with changeable legs was more of a talking point than the amount of money. Just a pity the OP couldn't get any more.;)

atush

NineDeuce wrote: »

Well how would you know given that I wouldnt rave on about my savings?....

Because you are an idiot to criticise others for asking if theya re saving enough/

The OP isnt raving, they are concerned they arent doing enough.

atush

OP, have you joined your work pension? Do you pay in enough to get their max contribution?

Have you done a budget? Although you are saving well enough, you could save more if you are wasting some of that money (and I dont mean by replacing your car- well done for paying for it w/o finance).

grad101

Only thing I would say here is that it looks like you could saving a little more if you wanted to. Does the rent you pay to your family cover stuff like bills and food as well or do you pay that separately? How much does running your car cost?

I saved around £750 per month when I was on 21k (around 1400 a month after tax) - I was living rent-free with family but paying £400 a month on a train fare.

Of course you need to live life and do the things you want to when young, but from my experience I would encourage to save as much as you can while you're able to live at home for little rent. I lived with my family for 6 months and traveled into work, and I do wish now I thought more about saving on little things like coffee and lunches out, or not getting that extra drink with dinner when I could (I think I became complacent because I was already saving a good sum each month). Now half my salary goes into housing and travel costs in London and I have to be careful with the small things that add up if I want to save at all!

Alexland

NineDeuce wrote: »

This seems like simply an opportunity to say 'look at me. I have £8k in the bank'....

...'and a net worth of minus £39k'?

Neither of which are particularly interesting as that's what it's like being a recent graduate living at home and only a couple of years into a career so using your logic more like 'look at me I am exceptionally normal'.

The two most valuable things the OP has which doesn't show in their current net worth is their future potential to earn and access to low cost accommodation until they can buy property.

Alex